74
74
Jan 15, 2013
01/13
by
CSPAN
tv
eye 74
favorite 0
quote 0
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
140
140
Jun 10, 2012
06/12
by
CSPAN
tv
eye 140
favorite 0
quote 0
first, the debt ceiling. friends on the other side often used the language that people are threatening to have the u.s. not meet its obligations. you are not aware of anybody threatening that, are you? >> i try not to characterize the comments of members of congress. i do not know anybody who thinks we should be followed. i recognize there is a disagreement about what other policies should be combined with an increase of the debt ceiling. that is fair. >> we are talking about the debt ceiling and if a debt ceiling increase is required. the options are to have no spending reduction and a debt ceiling increase or debt ceiling increases accompanied with spending reductions. which has a more positive affect on economic activity and output? >> in the short term, congressman, we think that a cutback in government spending will weaken the economy . will lower output. over the longer term, if the reduction in government spending is not accompanied by other changes and thus lead to a reduction in the debt, that would
first, the debt ceiling. friends on the other side often used the language that people are threatening to have the u.s. not meet its obligations. you are not aware of anybody threatening that, are you? >> i try not to characterize the comments of members of congress. i do not know anybody who thinks we should be followed. i recognize there is a disagreement about what other policies should be combined with an increase of the debt ceiling. that is fair. >> we are talking about the...
132
132
Jul 12, 2011
07/11
by
CSPAN
tv
eye 132
favorite 0
quote 0
host: should day raise the debt ceiling -- should they raise the debt ceiling? caller: only if they have to. i've been in that all my life. host: we are going to be talking about the 14th amendment, section four of the constitution, later on in our program at about 9:00 a.m. eastern time and whether or not the debt ceiling is unconstitutional. back to "the wall street journal" with this headline. host: also, this article goes through and talks about what the other republican candidates are saying on the debt ceiling debate, if you are interested. here is "the new york times" national section. tim pawlenty going after michele bachmann on one of the sunday shows. "iowa, a state where they're hoping he can be the conservative alternative to mitt romney." host: you might have solved a stories yesterday. the new poll from iowa republicans shows bachmann in the lead. "the washington times" this morning. also, here is "the washington times." tim, a democrat in idaho. we are talking about a mini deal or a grand bargain. what do you think? caller: we need a grand bargain
host: should day raise the debt ceiling -- should they raise the debt ceiling? caller: only if they have to. i've been in that all my life. host: we are going to be talking about the 14th amendment, section four of the constitution, later on in our program at about 9:00 a.m. eastern time and whether or not the debt ceiling is unconstitutional. back to "the wall street journal" with this headline. host: also, this article goes through and talks about what the other republican...
91
91
Dec 18, 2013
12/13
by
CSPAN
tv
eye 91
favorite 0
quote 0
all attached to a debt ceiling inquiry. ceiling legislation is the time that brings us all together and get the president's attention, which with this president when it comes to reducing spending is a bit of a challenge. i cannot imagine it being done claim. we will have to see if the house once to add to it as a condition of passing it. host: harry reid and mitch inonnell, up for reelection 2014, yesterday weighing in on the next fight of raising the debt ceiling, which could happen in february when the treasury runs out of money to pay its bills. on the two-your budget deal, the washington times reports this -- there are a group of senators think it aired i daring cuts to retirement pay. post" reportsn on that -- inside the story they say according to house budget aides, it will reduce pay by almost six percent, by a man who enlisted at age 18 and retired age 38. 1.26ng him with one million instead of 1.24. this an issue that could be returned to in january. (this morning. democratic caller. what is on your mind. they did
all attached to a debt ceiling inquiry. ceiling legislation is the time that brings us all together and get the president's attention, which with this president when it comes to reducing spending is a bit of a challenge. i cannot imagine it being done claim. we will have to see if the house once to add to it as a condition of passing it. host: harry reid and mitch inonnell, up for reelection 2014, yesterday weighing in on the next fight of raising the debt ceiling, which could happen in...
116
116
Jun 1, 2011
06/11
by
CSPAN
tv
eye 116
favorite 0
quote 0
debt ceiling -- i think i voted four times to increase the debt ceiling. members can sort of hide their votes from the american people. steny hoyer is a respected member and someone that i respect. he was making the point that the increase in the debt ceiling that has occurred over the past six or eight years -- i voted against it more often than i voted for it. we need 11 up and down vote and not hide it from the american people -- we need to have an up and down vote. host: why was it okay then? guest: it was not a clean vote. the house would deem if the senate -- it would be deemed as past. we did change the rules in the house to eliminate the gephardt ruling. anyone could go back to the same smoke and mirror games to raise the debt limit without having to raise their constituents. host: when you voted yes, why was it ok to vote yes? guest: we learn as we go. we know that the amount of debt that we have incurred, $14.29 trillion, is wrecking the economy. 20% of the rabbit goes to pay the interest on the dead -- 20% of the revenue goes to pay the interest
debt ceiling -- i think i voted four times to increase the debt ceiling. members can sort of hide their votes from the american people. steny hoyer is a respected member and someone that i respect. he was making the point that the increase in the debt ceiling that has occurred over the past six or eight years -- i voted against it more often than i voted for it. we need 11 up and down vote and not hide it from the american people -- we need to have an up and down vote. host: why was it okay...
10
10.0
Dec 14, 2021
12/21
by
CSPAN
tv
eye 10
favorite 0
quote 0
we have the debt ceiling. when we have this debate about the debt ceiling, it has one redeeming virtue and it reminds people we have a huge debt. i think there is some utility in that. the subject the callers are bringing up our great topics but they are not about the debt ceiling. host: the congressional research service says the u.s. debt held by private investors, 41% is held by foreign and private investors and 49% held by foreign investors. who are the biggest holders of u.s. debt? host: it's going to be china, russia and the saudi's, the middle east and people want to have u.s. securities. in the last big crisis which listeners may be too young to remember, 2007, 2012, one of the jobs of the treasury secretary at the time was to reassure these foreign governments who held treasuries or mortgage-backed securities issued by freddie mac and fannie mae, one of the major jobs of the treasury secretary was to assure them that these were safe investments. it is all the big players around the world. at that time
we have the debt ceiling. when we have this debate about the debt ceiling, it has one redeeming virtue and it reminds people we have a huge debt. i think there is some utility in that. the subject the callers are bringing up our great topics but they are not about the debt ceiling. host: the congressional research service says the u.s. debt held by private investors, 41% is held by foreign and private investors and 49% held by foreign investors. who are the biggest holders of u.s. debt? host:...
156
156
Nov 8, 2010
11/10
by
CSPAN
tv
eye 156
favorite 0
quote 0
the debt ceiling is our obligation to meet the debt that we've run up. a colleague of mine made the analogy of someone going on a spending spree, buying a yacht, having a party, and then when the bill arrived, they say i cannot pay that, it is too high. that is not where you make the decision on spending. you make it earlier. once you do, you have to live up to your obligations. host: looking at the historical levels of u.s. debt. do those figures out about right? guest: i think they do. a lot of that is our obligation to investors, domestic and foreign. part of that is the government borrowing from itself, dipping into the social security trust fund, other things, to keep things going. that is factored into the $13 trillion totaled. host: joe, a long island, new york. caller: talking about debts and deficits, one thing i did not hear about before, a total of the fall. -- total default. what happens, for example, if california goes bankrupt? if i could not pay my bills, the creditors would line up to take my car, my house. what happens when a large state
the debt ceiling is our obligation to meet the debt that we've run up. a colleague of mine made the analogy of someone going on a spending spree, buying a yacht, having a party, and then when the bill arrived, they say i cannot pay that, it is too high. that is not where you make the decision on spending. you make it earlier. once you do, you have to live up to your obligations. host: looking at the historical levels of u.s. debt. do those figures out about right? guest: i think they do. a lot...
23
23
Feb 9, 2018
02/18
by
CSPAN
tv
eye 23
favorite 0
quote 0
the debt ceiling will go up in unspecified amount. as much as you can borrow between now and november, go for it. there's no elimination. the debt ceiling becomes not a limitation at all. they're still taking a vote. maybe they don't want to vote on it anymore. they just want it to happen. they say they voted for the spending. i think the more obstacles we have in place -- the debt ceiling will go up in an unspecified amount. there will be a credit card issued for the united states that has no limits. this is a problem. everything about this stinks, to tell you the truth. everything about this process and the media doesn't get it. the media does you such a disservice. they can't understand what's going on sometimes. they're like, bipartisanship is broken out. hallelujah. republicans and democrats are getting along and in reality they should be telling you look for your wallet. check your pants to make sure they haven't taken your wallet. because when both parties are happy and both parties are getting together and doing stuff, guess w
the debt ceiling will go up in unspecified amount. as much as you can borrow between now and november, go for it. there's no elimination. the debt ceiling becomes not a limitation at all. they're still taking a vote. maybe they don't want to vote on it anymore. they just want it to happen. they say they voted for the spending. i think the more obstacles we have in place -- the debt ceiling will go up in an unspecified amount. there will be a credit card issued for the united states that has no...
95
95
Sep 27, 2013
09/13
by
CSPAN
tv
eye 95
favorite 0
quote 0
d -- the debt ceiling. ewe have a debt crisis in this nation. i don't think many people have differed with that notion. and we do have a plan to reduce wasteful government spending, which also spurs economic growth. so our plan reduces energy costs for families and businesses. it calls for the reform of our tax code. it reforms washington spending and it delays obamacare for one year for all american families. now, president obama has already delayed the law for big business, for insurance companies and the politically connected, so this is only fair for us to say that american families should also have the benefit of delay that this president has given to those. now, for too long, president obama and his democratic colleagues in the senate have chosen to ignore our looming debt crisis, and president obama's plan has been and is still more debt and no reform. and the american people have resoundedly rejected this idea. we have a recent poll out this morning, the bloomberg poll, which says that the american people know they don't want -- no, they
d -- the debt ceiling. ewe have a debt crisis in this nation. i don't think many people have differed with that notion. and we do have a plan to reduce wasteful government spending, which also spurs economic growth. so our plan reduces energy costs for families and businesses. it calls for the reform of our tax code. it reforms washington spending and it delays obamacare for one year for all american families. now, president obama has already delayed the law for big business, for insurance...
109
109
May 16, 2012
05/12
by
CSPAN
tv
eye 109
favorite 0
quote 0
some will pay more, some will pay less. >> one more thing on the debt ceiling. colemathat would require a 5.2 trillion dollar increase in the debt ceiling over the next 10 years. just as it was. take up the big, bad republican budget with everything under the sun would still require a five trillion dollar debt increase in the next 10 years. why? because of the demographic bubble baby boomers like me that are going to retire and continue retiring for the next 25 years. it is a big challenge. >> so it is not everything in the debt ceiling that has to be matched? trying to match overall reform? >> as long as i am around here, i believe that line in the sand will be there. understand the basis for this. what i am trying to do is use the debt ceiling as an action- forcing event to force the process to deliver more change that one -- and what it would produce on its own. it is as simple as that. >> one final question. you have been doing this for 22 years. and a lot of people have talked about you wanting to have a legacy to make a difference. and the use think democr
some will pay more, some will pay less. >> one more thing on the debt ceiling. colemathat would require a 5.2 trillion dollar increase in the debt ceiling over the next 10 years. just as it was. take up the big, bad republican budget with everything under the sun would still require a five trillion dollar debt increase in the next 10 years. why? because of the demographic bubble baby boomers like me that are going to retire and continue retiring for the next 25 years. it is a big...
127
127
Apr 25, 2011
04/11
by
CSPAN
tv
eye 127
favorite 0
quote 0
they have to raise the debt ceiling limit. i do think it is likely and probably a good thing that policy-makers are going to try to use this as a way to make some progress in addressing our fiscal problems. one possible thing that is a good thing that could come out of this is ever and agrees to some kind of debt trigger. this is an idea there is a mechanism that would be implemented say after the next election that would cut government spending, reduce tax expenditures to raise more money, if in fact the policy makers have not addressed our deficit problems and the debt load is not moving in the right direction. it is not determining exactly how we're going to address our fiscal problem, but it lays out the goals we're going to try to achieve. if we do not achieve those goals, then we have this mechanism in place. i think it policymakers can agree to something like that, the natural progress, that would be helpful and something good will come out of the state -- out of this breed policymakers have to raise the debt limit unre
they have to raise the debt ceiling limit. i do think it is likely and probably a good thing that policy-makers are going to try to use this as a way to make some progress in addressing our fiscal problems. one possible thing that is a good thing that could come out of this is ever and agrees to some kind of debt trigger. this is an idea there is a mechanism that would be implemented say after the next election that would cut government spending, reduce tax expenditures to raise more money, if...
0
0.0
Jun 7, 2023
06/23
by
CSPAN
tv
eye 0
favorite 0
quote 0
we have raised the debt ceiling over 70 times in our history. it is also true that about 10 or 11 times, we have gotten some budget reforms, budget constraints, spending restraints attached to negotiating with the debt ceiling. when you have the republican party in the house and the democrats in the presidency and the white house, you will have a negotiation about spending where you have differences and the same was true with nancy pelosi was speaker of the house and donald trump was president. she got what she wanted for a debt ceiling increase under the trump administration. there is give-and-take there. i thought this was a constructive dialogue. i believe we should bend the curve down in spending and get back to balanced budgets. that was the debate. host: fremont, ohio, george, republican. good morning. caller: my question is about the future of the dollar. the way you guys are spending money, do you think the future golfers will be in u.s. dollars -- or whatever new money the great nation -- guest: i always get asked if we had digital curr
we have raised the debt ceiling over 70 times in our history. it is also true that about 10 or 11 times, we have gotten some budget reforms, budget constraints, spending restraints attached to negotiating with the debt ceiling. when you have the republican party in the house and the democrats in the presidency and the white house, you will have a negotiation about spending where you have differences and the same was true with nancy pelosi was speaker of the house and donald trump was president....
182
182
Apr 21, 2011
04/11
by
CSPAN
tv
eye 182
favorite 0
quote 0
the federal debt ceiling 5.95 trillion dollars. today 14.3 trillion is the debt ceiling. virginia, huntsville, alabama up. caller: thank god for c-span, for repinank gofd column away -- rep connolly. i want to thank president obama for not cutting the medicare and medicaid program. i have paid into it for over 40 years. i do not use it, because when i retired i had a government insurance that was available to me. i also do not receive social security, but i am concerned about both because most of my friends and relatives are on social security. they need to restore every penny that they are taking from social security, and you need to pass a social security will never be privatized. every person that has paid into medicare and medicaid should be able to use it. i just want to say that i do not know if you have gone on line to look at paul ryan. it is like jim jones on kool- aid. it will destroy this country. guest: let me just say to you, that is a colorful analogy, but not one i share. i know paul ryan, and i think he is a very sincere and earnest colleagues. i happen to
the federal debt ceiling 5.95 trillion dollars. today 14.3 trillion is the debt ceiling. virginia, huntsville, alabama up. caller: thank god for c-span, for repinank gofd column away -- rep connolly. i want to thank president obama for not cutting the medicare and medicaid program. i have paid into it for over 40 years. i do not use it, because when i retired i had a government insurance that was available to me. i also do not receive social security, but i am concerned about both because most...
160
160
Jul 17, 2011
07/11
by
CSPAN
tv
eye 160
favorite 0
quote 0
ceiling -- the debt ceiling? >> you tax my imagination. >> even economists have imaginations. but in all seriousness, in all seriousness, i am deeply concerned about the fiscal condition of this country. i am deeply concerned about the deficit. can you think of anything i could do that would be more problematic than jeopardize our credit rating? >> that would certainly be a very negative thing. by the way, this is at the same time when europe is dealing with these fiscal issues, so there is a lot of uncertainty. >> exactly. and here is the last thing. we're just emerging from the worst recession since the great depression, and we went into this recession, we went straight off of the cliff. a lot of people did not predict it. a lot of people could not see that it was coming. how do you assess the risk that if we end up driving this car over the cliff with our eyes wide open, which they are, that we could see a downturn in our economy at a point when our deficit is already at $1.50 trillion, which it was not. when
ceiling -- the debt ceiling? >> you tax my imagination. >> even economists have imaginations. but in all seriousness, in all seriousness, i am deeply concerned about the fiscal condition of this country. i am deeply concerned about the deficit. can you think of anything i could do that would be more problematic than jeopardize our credit rating? >> that would certainly be a very negative thing. by the way, this is at the same time when europe is dealing with these fiscal...
101
101
Dec 13, 2013
12/13
by
CSPAN
tv
eye 101
favorite 0
quote 0
the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing? >> mr. chairman i think we learned in 2011 we learned again just this past october that treating the debt limit the way congress did put our economy in grave danger. every president in my lifetime has said the same thing. it is imperative to raise the debt ceiling and congress' responsibility to take that action. >> the time of the chairman has expired. >> and i would say every president in your lifetime has negotiated on the debt ceiling. >> thank you mr. chairman. i would like to see if i can get about er understanding ere we are in relationship finances discussions and trade talks with europe. to you and the president basically stating my we tion on whether or not would be including provisions in a trade agreement and it would be undermining to ad
the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing? >> mr. chairman i think we learned in 2011 we learned again just this past october that treating the debt limit the way congress did put our economy in grave danger. every president in my lifetime has said the...
115
115
Jan 23, 2013
01/13
by
CSPAN
tv
eye 115
favorite 0
quote 0
nobody put the debt ceiling or the u.s. willingness to pay its obligations on the table in the way it was placed in the summer of 2011 and the way i fear it is placed on the table again. it was a big mistake in 2011 to create this uncertainty and fear around the world and it is a big mistake to do it again today. >> what any good-thinking patriotic american want to use the debt ceiling as a vehicle to reduce spending? what would their reasoning be certainly not to embarrass the united states of america? >> i have no idea. but i can tell you -- >> if you don't have any, maybe it is to defeat the objectives that this president, at whatever cost some so-call leaders have said. they want to stop this president and they were unsuccessful in that measure. maybe they decided to change tactics and maybe this discussion is unnecessary and we find some other way to get a hand on the deficit. let me thank you to your contribution to this conversation as you have so many times before. i yield back my time. >> thank you, mr. johnson is
nobody put the debt ceiling or the u.s. willingness to pay its obligations on the table in the way it was placed in the summer of 2011 and the way i fear it is placed on the table again. it was a big mistake in 2011 to create this uncertainty and fear around the world and it is a big mistake to do it again today. >> what any good-thinking patriotic american want to use the debt ceiling as a vehicle to reduce spending? what would their reasoning be certainly not to embarrass the united...
121
121
Aug 7, 2011
08/11
by
CSPAN
tv
eye 121
favorite 0
quote 0
to increase the debt ceiling. i argue, mr. speaker, that we don't have a debt ceiling problem, we have a debt problem. and that's why we're here today and that's why i believe that we, after months and months and months of partisan bickering, fingerpointing, we have at this moment begun a debate that will allow us in a bipartisan way to increase the debt ceiling, which we all know needs to be done, as simply as meeting the obligation of paying for past spending. many of us have been opponents of much of that spending but we recognize that the bill has to be paid. speaker boehner, when just days after we took the oath of office in 112th congress, received the request from the president of the united states through his treasury secretary, mr. geithner, that we increase the debt ceiling. mr. speaker said then that he will agree it's essential for us to increase the debt ceiling but we were not going to proceed with business as usual. we're not going to continue increasing the debt without getting to the root cause of
to increase the debt ceiling. i argue, mr. speaker, that we don't have a debt ceiling problem, we have a debt problem. and that's why we're here today and that's why i believe that we, after months and months and months of partisan bickering, fingerpointing, we have at this moment begun a debate that will allow us in a bipartisan way to increase the debt ceiling, which we all know needs to be done, as simply as meeting the obligation of paying for past spending. many of us have been opponents...
105
105
Jan 11, 2011
01/11
by
CSPAN
tv
eye 105
favorite 0
quote 0
even to raise the debt ceiling. i think the latest discussion is somewhere around $16 trillion so that you can at least get through the next 2 years and whoever wins in 2012 can deal with the problem next. but even if you get to that point, and you have gone through either a default event or something close to a default event you have to do more cuts because you're just paying more interest to whoever bought the debt and probably countries like surpluses like china and sending more money abroad in that sense. so your question is more if you get passed that moment and do raise the debt ceiling then you get back to the discussion we're having -- we've been having all along about how do you deal with an unsustainable budget deficit? somehow you then have to either raise taxes or cut spending to deal with that problem. because otherwise you'll just end up in another event. and the risk is that nobody really knows what the point is where investors and financial markets decide the u.s. should not be seen as an outlier in
even to raise the debt ceiling. i think the latest discussion is somewhere around $16 trillion so that you can at least get through the next 2 years and whoever wins in 2012 can deal with the problem next. but even if you get to that point, and you have gone through either a default event or something close to a default event you have to do more cuts because you're just paying more interest to whoever bought the debt and probably countries like surpluses like china and sending more money abroad...
70
70
Jan 23, 2013
01/13
by
CSPAN
tv
eye 70
favorite 0
quote 0
ceiling -- using the debt ceiling for leverage is a mistake. i'll finish with this, because we were at the ways and means committee and i gave the opening statement, and one of the witnesses are talked about gramm-rudman. it was attached to a debt ceiling bill. i was among the democrats who voted for it, but it passed -- it was deemed passed in the house. and the debt ceiling bill was used by senators as a vehicle, not as a threat. and not for leverage but as a vehicle to attach deficit reduction. so the use of the debt ceiling for the purpose that is ascribed to this one does not have a history that supports its use for this purpose. and so to the extent that you have the ability to look at this issue, i would urge that this is not only a dangerous precedent but a very likely problem for the economy when we need to emphasize economic growth and jobs. so i say that in a somewhat sober way because of what happened before. thank you. >> thank you very much. i'd like to welcome mr. brady, former chairman of the house administration committee, who'
ceiling -- using the debt ceiling for leverage is a mistake. i'll finish with this, because we were at the ways and means committee and i gave the opening statement, and one of the witnesses are talked about gramm-rudman. it was attached to a debt ceiling bill. i was among the democrats who voted for it, but it passed -- it was deemed passed in the house. and the debt ceiling bill was used by senators as a vehicle, not as a threat. and not for leverage but as a vehicle to attach deficit...
46
46
Dec 1, 2016
12/16
by
CSPAN
tv
eye 46
favorite 0
quote 0
i really like that it switches the debt ceiling to look at debt as a share of gdp which is the right way to think about it, i think. but i think having the sequester-like if you fail to hit your debt targets it's only spending cuts. i'm all for broadening broadening the base. i don't think putting medicare and social security is a bad thing. it is part of what means to happen, along with revenue. you can have one where you have a punishment that nobody wants. we thought we had that with the sequester. turns out we didn't. maybe we don't understand what people are willing to do to not make the hard choices. or to have a sequester that would get to those debt targets through a reasonable method. but i think having a one-sided approach does not make any sense at all. i thought harry's estimation of, you could have huge tax cuts and never vote for them and entitlement spending would not make this plausible to begin with. you want both sides to adopt them and both sides to think the rules are fair. but i do think it is is an interesting time for a whole fresh start for a budget process. i
i really like that it switches the debt ceiling to look at debt as a share of gdp which is the right way to think about it, i think. but i think having the sequester-like if you fail to hit your debt targets it's only spending cuts. i'm all for broadening broadening the base. i don't think putting medicare and social security is a bad thing. it is part of what means to happen, along with revenue. you can have one where you have a punishment that nobody wants. we thought we had that with the...
142
142
Jul 21, 2011
07/11
by
CSPAN
tv
eye 142
favorite 0
quote 0
ceiling -- a point about the debt ceiling. if we don't raise the debt ceiling, america will become a deadbeat nation. we cannot allow the greatest country in the world to become a deadbeat nation and not pay our bills or pay our debt. we cannot allow americans credit rating to be lowered. think about this. congress has raised the debt ceiling 89 times since the 30's. we cannot be the first congress to send america into default. i find myself quoting ronald reagan. i will do again. "the full consequences of the default or even a serious prospect by the u.s. is impossible to predict and austin to contemplate. denigration of the full faith and credit of the u.s. would have substantial effect on the domestic financial markets and the value of the dollar in exchange markets could to the nation can ill afford to allow such a thing." that is ronald reagan. i would never do this on your birthday or any other day. i want to tell you why we are so strongly opposed to this plan passed by the house republicans. yes, they call it cut and c
ceiling -- a point about the debt ceiling. if we don't raise the debt ceiling, america will become a deadbeat nation. we cannot allow the greatest country in the world to become a deadbeat nation and not pay our bills or pay our debt. we cannot allow americans credit rating to be lowered. think about this. congress has raised the debt ceiling 89 times since the 30's. we cannot be the first congress to send america into default. i find myself quoting ronald reagan. i will do again. "the...
90
90
Feb 10, 2011
02/11
by
CSPAN
tv
eye 90
favorite 0
quote 0
and so if we didn't let the debt ceiling what would that do to the state's? with they be able to refinance their debt? >> i see what you're saying. well, i think it's important to know that california always pays its interest. it uses a script and so on for some employees. up for some payments but it has paid interest. even so i think it was green on california debt when up for a while or at least following that. it's clear that the value to pay interest on a u.s. the debt would have and would create enormous crisis of confidence in financial markets and into the bond market. it would as a practical matter cascaded through system because banks and other institutions are counting on receiving interest in or to make their payments would not be able to make their payments. so you would have a seizing up of the financial system that could be quite detrimental to our economy. even if that was worked through some out and say, for example, the debt was raised within a few hours, the long-term consequences in terms of the interest rate that united states government w
and so if we didn't let the debt ceiling what would that do to the state's? with they be able to refinance their debt? >> i see what you're saying. well, i think it's important to know that california always pays its interest. it uses a script and so on for some employees. up for some payments but it has paid interest. even so i think it was green on california debt when up for a while or at least following that. it's clear that the value to pay interest on a u.s. the debt would have and...
40
40
Sep 29, 2017
09/17
by
CSPAN
tv
eye 40
favorite 0
quote 0
i have heard a lot about the debt ceiling, but until you go through a debt ceiling, it is a little bit different. i was operating the government like a piggy bank, i would be sitting there with my team looking at our cash numbers and managing the cash and watching what came in and out, and we were operating with way too little cash. the debty happy ceiling got race. the first thing i did that day was raise an extra $20 billion for same-day settlement increase our cash.e that's how concerned i was. i view is congress has every right, they appropriate the money, they get to decide how we spend it. to spend thegree money, we need to agree to be able to pay for it. whether we get rid of it or approve a debt ceiling simultaneous with spending, i think in one form or another, we need to figure out over time how to fix the system. at the end of the day, the republicans and democrats agree we are not going to not pay our government debt. it is inconceivable. mr. garrett: share with us some of the internal conversations. this is a live issue. there are those in the administration i have talked
i have heard a lot about the debt ceiling, but until you go through a debt ceiling, it is a little bit different. i was operating the government like a piggy bank, i would be sitting there with my team looking at our cash numbers and managing the cash and watching what came in and out, and we were operating with way too little cash. the debty happy ceiling got race. the first thing i did that day was raise an extra $20 billion for same-day settlement increase our cash.e that's how concerned i...
11
11
May 28, 2023
05/23
by
CSPAN
tv
eye 11
favorite 0
quote 0
i look at the debt ceiling this way. we should not have a debt ceiling. we should be spending. all these countries the government spends and to the other countries billions of dollars and we suffer for that. now the republicans are -- want to take oil from us with a debt ceiling comes up. we should be spending just like anybody else. thank you. host: georgia calling from el paso, texas on the republican line. good morning. caller: yes, hi. i am calling on the republican line. my name is georgia. i'm trying to figure out what is the point of us voting republican if once they get in a tight squeeze they will follow d'arco if you notice -- once they get in a tight squeeze they will fold? democrats were not followed by the republicans they get in their and we gave them the house with paul ryan and they did not do nothing then either. we get in the house this go around and now they are folding on the thing. they still wants to take care of these people that is coming into the united states. what is the point? what is a body in republicans in office if they're going to act like the d
i look at the debt ceiling this way. we should not have a debt ceiling. we should be spending. all these countries the government spends and to the other countries billions of dollars and we suffer for that. now the republicans are -- want to take oil from us with a debt ceiling comes up. we should be spending just like anybody else. thank you. host: georgia calling from el paso, texas on the republican line. good morning. caller: yes, hi. i am calling on the republican line. my name is...
208
208
Aug 1, 2011
08/11
by
CSPAN
tv
eye 208
favorite 0
quote 0
ceiling and a not going over the debt limit? and who are you hearing from? some republicans are very concerned that they were separating themselves from the tea party message a. guest: the democrats are concerned. some members feel that it does not have to be raised. some felt that you could go a week or so beyond the deadline and everything would be ok. there were some members with a very strong financial services industry that it did not want to go past this deadline or be at risk. it was tough for speaker boehner to get the votes. and john mccain on the floor of the senate quoted an op ed. host: there is an op ed piece in the "washington post" today. he says what a difference a week and makes. he says it is winning the battle of ideas. how does the white house fight against that? guest: they have gone in full fighting mode. they have their officials out. look at the record. he looks at the details of the agreement. the social safety net not being damaged, so security, medicare. democrats have had an issue with the way this de
ceiling and a not going over the debt limit? and who are you hearing from? some republicans are very concerned that they were separating themselves from the tea party message a. guest: the democrats are concerned. some members feel that it does not have to be raised. some felt that you could go a week or so beyond the deadline and everything would be ok. there were some members with a very strong financial services industry that it did not want to go past this deadline or be at risk. it was...
81
81
Feb 11, 2014
02/14
by
CSPAN
tv
eye 81
favorite 0
quote 0
speaker, what would you attach to a debt ceiling increase, the debt ceiling increase that would satisfy the president, which apparently would be an entire year of credit card for an entire year, at whatever limit that might be, what would you attach to that, to send the message to hang on to something that ung point to and say, -- that you can point to and say, i focused on fiscal restraint, what would be that list of items? one would be, and the number one item, that this would get me to vote for a limited debt ceiling increase would be this, a balanced budget amendment to the united states constitution. passed out of the house of representatives, passed out of the united states senate, messaged to the states. i'd step up and take a real good look, pending on the terms of it, of course, in voting for a debt ceiling increase under those conditions. now, the balanced budget amendment to our constitution uld have to include, in my view, it would need to include a cap on the g.d.p. spending, i'd cap it at 18%. another would be that there would have to be able to waive that balanced budget
speaker, what would you attach to a debt ceiling increase, the debt ceiling increase that would satisfy the president, which apparently would be an entire year of credit card for an entire year, at whatever limit that might be, what would you attach to that, to send the message to hang on to something that ung point to and say, -- that you can point to and say, i focused on fiscal restraint, what would be that list of items? one would be, and the number one item, that this would get me to vote...
78
78
Dec 15, 2013
12/13
by
CSPAN
tv
eye 78
favorite 0
quote 0
the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> my time is almost up -- are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing? >> mr. chairman, i think we learned in 2011, we learned again just this past october that treating the debt limit the way congress did put our economy in grave danger. every president in my lifetime has said the same thing. it is imperative to raise the debt ceiling and congress' responsibility to take that action. >> the time of the chairman has expired. and i would say every president in your lifetime has negotiated on the debt ceiling. the chair now recognizes the ranking member for five minutes. >> thank you, mr. chairman. i would like to see if i can get a clearer understanding about where we are in relationship to finance discussions and trade talks with europe. i sent a letter to you and the president basically stating
the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> my time is almost up -- are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing? >> mr. chairman, i think we learned in 2011, we learned again just this past october that treating the debt limit the way congress did put our economy in grave danger. every president in...
67
67
Jan 29, 2017
01/17
by
CSPAN
tv
eye 67
favorite 0
quote 0
he went on to say he supported raising the debt ceiling 100%. he said the president-elect made it perfectly clear, i'm quoting him now, that honoring the debt is the most important thing. finally, you said, " i would like us to see raise the debt ceiling sooner rather than later." how do you reconcile these two positions, congressman? rep. mulvaney: thank you for that, senator. couple different things. as you recall back during i believe the last time we add debt ceiling discussion in this country is 2013. rhetoric was extraordinarily high. my comment you made was something i believe i said, i believe the statement is accurate. was that i had not found anybody yet who can explain to me exactly why that rhetoric was so high. ways i was surprised it find, at the time, treasury of secretary, who you would expect to calm the market was doing the , opposite. we found out that while he was publicly saying we would default he privately told dealers in federal debt that he would pay the interest on the debt. i think that goes to the environment at the t
he went on to say he supported raising the debt ceiling 100%. he said the president-elect made it perfectly clear, i'm quoting him now, that honoring the debt is the most important thing. finally, you said, " i would like us to see raise the debt ceiling sooner rather than later." how do you reconcile these two positions, congressman? rep. mulvaney: thank you for that, senator. couple different things. as you recall back during i believe the last time we add debt ceiling discussion in...
129
129
Feb 10, 2011
02/11
by
CSPAN
tv
eye 129
favorite 0
quote 0
that brings me to the debt ceiling. you were concerned that some of the proposals that may have been offered. you have questions about the workability of that. given our fiscal situation, if we were able to figure out a way to work with the problems, if we were able to find a way to prioritize, would that change our ideas of fiscal policy? >> my concern is about not defaulting on the debt. that is a very high priority. that would help. you are still in a position where you would not be paying contractors. you are not be putting out social security and medicare checks. -- would not be putting out social security and medicare checks. >> we talked about your plans to exit the policy when you see the need to do so. you talked about raising rates and redeeming some of these securities. are you satisfied he would be able to do that quickly enough to react to inflationary concerns? >> yes, we can raise short-term interest rates as quickly as we like. we can raise it to banks. we do not have to sell off all our assets. if we ca
that brings me to the debt ceiling. you were concerned that some of the proposals that may have been offered. you have questions about the workability of that. given our fiscal situation, if we were able to figure out a way to work with the problems, if we were able to find a way to prioritize, would that change our ideas of fiscal policy? >> my concern is about not defaulting on the debt. that is a very high priority. that would help. you are still in a position where you would not be...
120
120
Jul 30, 2011
07/11
by
CSPAN
tv
eye 120
favorite 0
quote 0
right now we have a fine proposal to extend the debt ceiling until 2013, reduce the debt by $2.4 trillion, it is a fine piece of legislation. it has a joint committee to make further cuts, something that we believe and senator mcconnell will acknowledge this, we could get something out of that. we are waiting that -- for them to do something, anything, move toward us. if that fails, we will go for our bill. that is things that they have already voted on and agreed to. last question. >> [inaudible] you mentioned the january baseline. >> the cbo has come up with those numbers and have told you before, we have laid out all part numbers. you can dissect them, look at them. this is what the cbo has recommended and we followed terrifies. thank you. -- their advice. thank you. >> next, live, your calls and comments on "washington journal." at noon, live coverage of the house of representatives as they continue work on debt ceiling legislation. >> if you're asking me to try to be direct with you about the political situation, i am not going to be predictable in terms of saying, the left is always
right now we have a fine proposal to extend the debt ceiling until 2013, reduce the debt by $2.4 trillion, it is a fine piece of legislation. it has a joint committee to make further cuts, something that we believe and senator mcconnell will acknowledge this, we could get something out of that. we are waiting that -- for them to do something, anything, move toward us. if that fails, we will go for our bill. that is things that they have already voted on and agreed to. last question. >>...
97
97
Nov 27, 2012
11/12
by
CSPAN
tv
eye 97
favorite 0
quote 0
head then raising the debt ceiling. we know we need to do both. i was pleased to give the president -- to see the president talked about how we create jobs and meet the needs of the american people. some of his suggestions have very strong support in our caucus, whether it is and for stricter, rebuilding our country, make it in america. mr. hoyer will talk to us about make it in america everybody has been intensely involved. the american people stop rarity is the accretion of dollars. priority is creating jobs. now it is time to talk about jobs. a person who has been a leader will tell you about it, mr. hoyer. >> thank you very much. let me suggest that talking about jobs is talking about the debt. the only way we will successfully deal with debt is to create jobs and economic growth in america. we know that but
head then raising the debt ceiling. we know we need to do both. i was pleased to give the president -- to see the president talked about how we create jobs and meet the needs of the american people. some of his suggestions have very strong support in our caucus, whether it is and for stricter, rebuilding our country, make it in america. mr. hoyer will talk to us about make it in america everybody has been intensely involved. the american people stop rarity is the accretion of dollars. priority...
107
107
Dec 7, 2012
12/12
by
CSPAN
tv
eye 107
favorite 0
quote 0
really quickly, the debt ceiling. there is something about your testimony that caught my attention, which is your support for the initiative offered by senator rob portman. lawmakers can adopt a version of the so-called dollar rule to address the 2011 debt ceiling. policymakers could agree at the beginning to cover that here -- year's budget. they could -- adopting some form of this rule would be a good safeguard. i appreciate his comments. isn't this exactly what we did that now everyone is trying to get out of? we have a dollar of spending reductions. 1.2 is already in place. the other is in the sequester. isn't that what we did? if that isn't a good idea, why are you and the the others now idea? >> let me say a few things. first, the broad context. we need to get rid of the debt ceiling law. it is agonistic. -- it is anachronistic. we need to get rid of it. i suggest that some version of the dollar for dollar rule should be incremented. at least considered. it does not need to be one-for- one. it could be 50%. that
really quickly, the debt ceiling. there is something about your testimony that caught my attention, which is your support for the initiative offered by senator rob portman. lawmakers can adopt a version of the so-called dollar rule to address the 2011 debt ceiling. policymakers could agree at the beginning to cover that here -- year's budget. they could -- adopting some form of this rule would be a good safeguard. i appreciate his comments. isn't this exactly what we did that now everyone is...
58
58
Nov 1, 2015
11/15
by
CSPAN
tv
eye 58
favorite 0
quote 0
you talk about the debt ceiling. limit untilthe debt march 2017. equate key date was coming in all of that, wasn't it? was this coming tuesday. the white house and congressional leaders in the house and senate really got the deal done pretty quickly. what is interesting is these negotiations started in september. they happened in complete secrecy. they were completely confidential. they happened on the staff level, and among president obama, mitch mcconnell, nancy pelosi, harry reid. they have been talking back and forth since september, but we did not hear about it until last week erie it is interesting how it just materialized out of nowhere. host: it delayed the sequester and increases funding by $80 billion through september 2017. remind us of what the sequester was, why it was put in place, and how they finally got past this. guest: it was a deal that the white house and congress reached in 2011 after this negotiation collapsed. both sides later realized that the caps over the next decade through 2021, they have been too low for people in cong
you talk about the debt ceiling. limit untilthe debt march 2017. equate key date was coming in all of that, wasn't it? was this coming tuesday. the white house and congressional leaders in the house and senate really got the deal done pretty quickly. what is interesting is these negotiations started in september. they happened in complete secrecy. they were completely confidential. they happened on the staff level, and among president obama, mitch mcconnell, nancy pelosi, harry reid. they have...
176
176
Jul 24, 2011
07/11
by
CSPAN
tv
eye 176
favorite 0
quote 0
in april, 46% said congress would not raise the debt ceiling. 16% said the debt ceiling would be raised. in july, it's more even. 31 still not sure. 38% now say the debt ceiling should be raised. how do you explain the doubling should be raised in a three-month period. guest: republicans are not saying to raise the debt ceiling. they don't want a default. they've put forth plan and plan again. the white house has never put out concrete plans. that's been the frustration of republicans. he gave quiet talks, made a speech railing at chairman ryan. had press conference. he hasn't put forth any document. at least it is a plan. we may not agree with it. the senate can't even put forth a budget or a plan. i suspect it is because has a huge problem to put forth. >> i think what american people have heard is that the economy is going to collapse. we bailed out the banks, people got bonuses. the economy is still terrible. >> we told people we do know that economic policy dictates that we really did need to bail out the banks. when they hear you have to face the debt ceiling. it feels they've bee
in april, 46% said congress would not raise the debt ceiling. 16% said the debt ceiling would be raised. in july, it's more even. 31 still not sure. 38% now say the debt ceiling should be raised. how do you explain the doubling should be raised in a three-month period. guest: republicans are not saying to raise the debt ceiling. they don't want a default. they've put forth plan and plan again. the white house has never put out concrete plans. that's been the frustration of republicans. he gave...
123
123
Jul 19, 2011
07/11
by
CSPAN
tv
eye 123
favorite 0
quote 0
ronald reagan raised the debt ceiling we raised the debt ceiling eight times since we have been here in the united states congress, and not once were we discussing a balanced budget amendment. are we discussing in 1995? some of us opposed it, but it did not have these restrictions that mr. van colorado has talked about. they are outrageous and absurd. >> i appreciate the gentleman from florida. the gentleman from georgia. >> i appreciate being able to follow that. i could not be more enthusiastic about this bill. i do not want to blow sunshine, but you spearheaded this from the beginning. you put the ideas out there. you pushed ideas a lot of folks have not thought about, had not talked about. folks have not figured out a way to bring the law into one piece. i dare say sometimes it takes a crisis to bring out the best in this congress. i think you brought out the best in this congress in bringing this resolution. i am grateful to you for it. i want to talk to you a little bit about what the strategy is, going forward. i was tempted to take mr. hastings's bet that this might not pass
ronald reagan raised the debt ceiling we raised the debt ceiling eight times since we have been here in the united states congress, and not once were we discussing a balanced budget amendment. are we discussing in 1995? some of us opposed it, but it did not have these restrictions that mr. van colorado has talked about. they are outrageous and absurd. >> i appreciate the gentleman from florida. the gentleman from georgia. >> i appreciate being able to follow that. i could not be...
91
91
Oct 30, 2015
10/15
by
CSPAN
tv
eye 91
favorite 0
quote 0
in the debt ceiling. we have said to president obama, you can spend as much money as you want throughout the rest of your presidency, no limits. the national taxpayers union writes, "if the question on the budget and debt ceiling package is deal or no deal, taxpayers should clearly opt for the latter." while the agreement contains a few meritorious provisions, it fails other savings and reforms necessary to address our nation's $18.1 trillion debt problem. the debt is, without question, the number-one problem in the country. we will have a vote this evening and that vote will be, do you care? are you willing to do something to slow it down? do you think we ought to use the leverage of the debt ceiling to slow down spending, or are you a profligate spender who will vote to bust the caps and who will vote to give president obama unlimited borrowing authority? i think it is a clear-cut question. i will vote "no," and i will continue this filibuster as long as there are enough votes here to allow it to contin
in the debt ceiling. we have said to president obama, you can spend as much money as you want throughout the rest of your presidency, no limits. the national taxpayers union writes, "if the question on the budget and debt ceiling package is deal or no deal, taxpayers should clearly opt for the latter." while the agreement contains a few meritorious provisions, it fails other savings and reforms necessary to address our nation's $18.1 trillion debt problem. the debt is, without...
5
5.0
Oct 5, 2021
10/21
by
CSPAN
tv
eye 5
favorite 0
quote 0
about if we surpass the debt ceiling and the efforts to stop that? guest: we cannot have a situation in which we reach the debt limit without an increase and the u.s. defaults on its debt. the u.s. has never default on legal obligations, that is why we are the world's reserve currency and why the safest investments are investments in our nations treasury bills. if we were to default on our debt, all of that would go away. the estimates from the economists, just estimates, is that it will cost millions of jobs and trillions of dollars in investment. we cannot afford to do that, that is why congress has to do the responsible thing and raise the debt limit long before we reach the deadline. host: should republicans be more involved in the process of not crossing the debt ceiling? guest: both sides need to figure out how to move forward together. the danger is the more politicized the debt limit becomes, and it happens under democrats and republicans, the more dangerous the situation gets. we have simply said that congress has to figure out a way forward
about if we surpass the debt ceiling and the efforts to stop that? guest: we cannot have a situation in which we reach the debt limit without an increase and the u.s. defaults on its debt. the u.s. has never default on legal obligations, that is why we are the world's reserve currency and why the safest investments are investments in our nations treasury bills. if we were to default on our debt, all of that would go away. the estimates from the economists, just estimates, is that it will cost...
170
170
Nov 8, 2010
11/10
by
CSPAN
tv
eye 170
favorite 0
quote 0
the debt ceiling is our obligation to meet the debt that we've run up. a colleague of mine made the analogy of someone going on a spending spree, buying a yacht, having a party, and then when the bill arrived, they say i cannot pay that, it is too high. that is not where you make the decision on spending. you make it earlier. once you do, you have to live up to your obligations. host: looking at the historical levels of u.s. debt. do those figures out about right? guest: i think they do. a lot of that is our obligation to investors, domestic and foreign. part of that is the government borrowing from itself, dipping into the social security trust fund, other things, to keep things going. that is factored into the $13 trillion totaled. host: joe, a long island, new york. caller: talking about debts and deficits, one thing i did not hear about before, a total of the fall. -- total default. what happens, for example, if california goes bankrupt? if i could not pay my bills, the creditors would line up to take my car, my house. what happens when a large state
the debt ceiling is our obligation to meet the debt that we've run up. a colleague of mine made the analogy of someone going on a spending spree, buying a yacht, having a party, and then when the bill arrived, they say i cannot pay that, it is too high. that is not where you make the decision on spending. you make it earlier. once you do, you have to live up to your obligations. host: looking at the historical levels of u.s. debt. do those figures out about right? guest: i think they do. a lot...
23
23
Aug 23, 2017
08/17
by
CSPAN
tv
eye 23
favorite 0
quote 0
they need to increase the debt ceiling to avoid a default on u.s. debt. other items, and writing the tax code and work on health care legislation. gavel to gavelve coverage here on c-span and the senate on c-span2. this week on c-span. tonight at eight, former presidents george w. bush and bill clinton on leadership. president clinton: i could help someone have a better life and i liked it. all these people tell you they were born in a log cabin they built themselves are full of
they need to increase the debt ceiling to avoid a default on u.s. debt. other items, and writing the tax code and work on health care legislation. gavel to gavelve coverage here on c-span and the senate on c-span2. this week on c-span. tonight at eight, former presidents george w. bush and bill clinton on leadership. president clinton: i could help someone have a better life and i liked it. all these people tell you they were born in a log cabin they built themselves are full of
70
70
Jan 10, 2011
01/11
by
CSPAN
tv
eye 70
favorite 0
quote 0
the budget in the context of the debt and the debt ceiling and the effect of the debt ceiling on the u.s. economy and that entire debate and we are really just now starting to see the debate pick up obviously about what this means for the economy overall if we were to have a default on the debt. obviously it's only a threat right now from people looking for spending cuts but it is a serious threat and one we've never actually faced. so the -- i'll pull this up. this just for the basics to start f with a rundown of what the u.s. deb looks like. as you know we're heading just above $14 trillion of debt ceiling at $14.3 trillion. and you can see here that we've actually run through from the -- you can run the debt back to 1789 if you wanted to. there's always been some debt in the u.s. except for 1835 when andrew jackson was able to eliminate it entirely. there's always been some fairly low level of debt and as the economy went into the '70s we started seeing a creep up into the '80s. you can see on this chart what happens when policies aren't quite in sync as they should be with taxes.
the budget in the context of the debt and the debt ceiling and the effect of the debt ceiling on the u.s. economy and that entire debate and we are really just now starting to see the debate pick up obviously about what this means for the economy overall if we were to have a default on the debt. obviously it's only a threat right now from people looking for spending cuts but it is a serious threat and one we've never actually faced. so the -- i'll pull this up. this just for the basics to start...
60
60
Oct 14, 2013
10/13
by
CSPAN
tv
eye 60
favorite 0
quote 0
if the debt ceiling is not raised. there are others like laurence tribe who say you cannot do that because that would lead to lawlessness. i wonder what he thinks the present situation is going to lead to. if the president of the united states said tomorrow morning we're going to default on some of our debt, we are not going to pay these, what do you think i should do? you cannot go down in history as the first president who defaulted on american sovereign debt. we do not know what the supreme court might rule. order me asation is treasury secretary to pay the bills as they come in on time and in full, and those people who feel they have been aggrieved can take this to the supreme court. host: what has the white house said about the option? guest: that line of reasoning has been rejected. i think i know why. they do not want that situation to recur. they are not want the president -- host: sounds like you think the option might be on the table. guest: i do not know what secretary lew will recommend. for me it is a bina
if the debt ceiling is not raised. there are others like laurence tribe who say you cannot do that because that would lead to lawlessness. i wonder what he thinks the present situation is going to lead to. if the president of the united states said tomorrow morning we're going to default on some of our debt, we are not going to pay these, what do you think i should do? you cannot go down in history as the first president who defaulted on american sovereign debt. we do not know what the supreme...
387
387
Sep 19, 2012
09/12
by
CSPAN
tv
eye 387
favorite 0
quote 0
another debt ceiling fight. the sequestration under debt ceiling. what do they call it? taxageddon. you know, the -- >> the markets are going to be very, very happy. if we win on november 6, there will be a great deal of optimism in this country. we'll see capital come back. without even doing anything, we will actually get a boost in the economy. if the president gets re- elected, i don't know what will happen. i can't predict. i any it will be the exact opposite of what i expect. if we get the tax increases on january 1 with this president, and with a congress that can't work together, it's really frightening. >> 54% of american voters think the chinese economy is bigger than the u.s. economy. when i met you four or five weeks ago, you said -- you did the diagram where you went very granular and you said, look, guys, this is a small group. this is it. this is what it is. now are you -- how are you going to win if 54% of the voters think china's economy is bigger than our own? or if it costs 4 cents to make a penny and we keak keep making pennies? canada got it right a month ago. w
another debt ceiling fight. the sequestration under debt ceiling. what do they call it? taxageddon. you know, the -- >> the markets are going to be very, very happy. if we win on november 6, there will be a great deal of optimism in this country. we'll see capital come back. without even doing anything, we will actually get a boost in the economy. if the president gets re- elected, i don't know what will happen. i can't predict. i any it will be the exact opposite of what i expect. if we...
52
52
Jan 4, 2015
01/15
by
CSPAN
tv
eye 52
favorite 0
quote 0
we had a debt ceiling crisis and a debt debacle that forced interest rates lower. when people freak out, when they panic, suddenly, the united states is unique. or borrowing costs start to fall host: he has written for the boston times "wall street journal," bloomberg businessweek and now heard on fulldisclosureradioed.com as we look ahead at a time economy. pauline from knoxville, republican line. good morning. caller: good morning, c-span. happy new year. i called in because of the economy situation but mostly because of scal partners and i was reading in national geographic january 2014 issue on this program and it focuses on dubai. i would like to read something because i am nervous about talking on the phone with you but it's better opportunity is as hold as human history. today, it's likely more people are living outside their countries of birth than ever before. at every hour of every day, matses of people and money are in motion. a global flux is shipping and nations with fewer resources off loading their working poor and relying on the money that comes bac
we had a debt ceiling crisis and a debt debacle that forced interest rates lower. when people freak out, when they panic, suddenly, the united states is unique. or borrowing costs start to fall host: he has written for the boston times "wall street journal," bloomberg businessweek and now heard on fulldisclosureradioed.com as we look ahead at a time economy. pauline from knoxville, republican line. good morning. caller: good morning, c-span. happy new year. i called in because of the...
114
114
Jul 21, 2011
07/11
by
CSPAN
tv
eye 114
favorite 0
quote 0
we must take action to deal with our debt, raising the debt ceiling, before them. but there is still time to do something significant if all parties are willing to compromise. the parameters of what that might look like are well known, especially to the participants in the negotiations that the president oversaw last week. this is an estimate about what it takes to move something through congress. there it is this ineluctable modality of how congress works that you have to accept, that things can turn up and be voted on and reconciled all on one day. you have to guess and we have to leave it to the leaders of congress to provide their best estimates, rather than us. >> will you have to do with the a, a plan or a short-term deal so you can take more time to negotiate a package? >> we are, as you know, supportive of the efforts by senators mcconnell and read to craft a full bath provision or solution to make sure that we take the necessary action on raising the debt ceiling. when i was talking about which train we would ride into the station, we are on multiple train
we must take action to deal with our debt, raising the debt ceiling, before them. but there is still time to do something significant if all parties are willing to compromise. the parameters of what that might look like are well known, especially to the participants in the negotiations that the president oversaw last week. this is an estimate about what it takes to move something through congress. there it is this ineluctable modality of how congress works that you have to accept, that things...
214
214
Jun 1, 2012
06/12
by
CSPAN
tv
eye 214
favorite 0
quote 0
debt, the debate over the debt ceiling. let me put one economic article, "usa today," federal workers numbers decline, slight drop, a huge shift from recent expansion. here's what denis reports. the federal government has started to trim its workforce, ending several years of explosive and controversial growth that came at a time when private companies and state and local governments slashed jobs. host: next is a call from california. this is diane, a democrat there. good morning. caller: good morning. how are you? host: fine, thank you. caller: when you started out your issue here this morning, the question on cybercriminals or cyberterrorism, the first thing that came to my mind was secretary michael chert off, -- chertoff, who was before many hearings in the senate, rempsed a program they had way back in 2005, and just six points that he had put in the topics were specific, so he brought up cyberterrorism many, many years ago. i have been predicting our grid would be hacked into for many years, reference the cyberterrori
debt, the debate over the debt ceiling. let me put one economic article, "usa today," federal workers numbers decline, slight drop, a huge shift from recent expansion. here's what denis reports. the federal government has started to trim its workforce, ending several years of explosive and controversial growth that came at a time when private companies and state and local governments slashed jobs. host: next is a call from california. this is diane, a democrat there. good morning....
105
105
Jan 19, 2013
01/13
by
CSPAN
tv
eye 105
favorite 0
quote 0
ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other countries and the world have this particular institution. the congress appropriates $100, tells the government to spend $100 on whatever, and then it raises $80 in revenue through its tax code. the arithmetic here says, you have to borrow $20. no, congress has to give a third 100-80 = says the 180at 20. logically, there is got to be something to make up the difference. the way to address it is by having a sensible plan for spending, insensible span foplar revenue. as i was saying before, this is like a family saying, we're spending too much. let's stop paying our credit
ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other countries and the world...
99
99
Jul 30, 2011
07/11
by
CSPAN
tv
eye 99
favorite 0
quote 0
but it is time -- before that debt ceiling is reached. but it is time to vote on these bills and then get down to the real work of determining what is the best in both that we can pass in both proceedings under the quorum call be dispensed with. the presiding officer: without objection. mr. conrad: mr. president, we are now reaching a critical hour in the congress of the united states on the question of extending the debt limit of the nation and of fundamentally dealing with the debt of the nation. i don't think there is any serious person in either body that does not understand that we must deal with the debt itself as we extend the debt limit. we are borrowing 40 cents of every dollar that we spend. the gross debt of the united states will reach 100% of our g.d.p. by the end of this year. the best economists in the country of whatever philosophical stripe are telling us we're on an unsustainable course that must be changed. mr. president, in the midst of this, we have had the house so far unable to send us a package. now we're told they
but it is time -- before that debt ceiling is reached. but it is time to vote on these bills and then get down to the real work of determining what is the best in both that we can pass in both proceedings under the quorum call be dispensed with. the presiding officer: without objection. mr. conrad: mr. president, we are now reaching a critical hour in the congress of the united states on the question of extending the debt limit of the nation and of fundamentally dealing with the debt of the...
0
0.0
Oct 25, 2022
10/22
by
CSPAN
tv
eye 0
favorite 0
quote 0
. >> the president has said it would be a responsible to abolish the debt ceiling, limits on debt. there are number of democrats who say that should be considered. to allow congress to pay for things that have been passed into law. does the president disagree with the treasury secretary? does he believe it will be more irresponsible to abolish the debt ceiling or to allow it to continue to be a football that democrats and republicans passed to each other. sec. jean-pierre: the president believes that it should not be used as a political football. the thing that we are responding to, and i want to be clear here. the reason why we are responding, and you heard from the president last weekend he has been clear about the debt ceiling, it is because of what the republicans are trained to do. they have also been clear, they have said if we do not put medicare and social security on the chopping block, if they were to have the majority, they would essentially hold the government hostage as it relates to the debt ceiling. that is something that should not happen. that is what we are respon
. >> the president has said it would be a responsible to abolish the debt ceiling, limits on debt. there are number of democrats who say that should be considered. to allow congress to pay for things that have been passed into law. does the president disagree with the treasury secretary? does he believe it will be more irresponsible to abolish the debt ceiling or to allow it to continue to be a football that democrats and republicans passed to each other. sec. jean-pierre: the president...